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. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republicans want to close tax loopholes and eliminate deductions, which they say will raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the fiscal cliff. >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. so now that each side has rejected the other's first offer, it's going to be interesting and important to watch the timing of the next offer on the part of the white house to really try to figure out, terrell, how far both sides are willing to take us toward that cliff. >> and which side has the edge at this point. susan mcginnis in washington this morning. thank you so much. >>> iran says this morning it's captured a united states drone flying over iranian air space. the drone was reportedly gathering information over the persian gulf when it was captured by iranian naval units. in 2011, iran brought down a cia drone. >>> at the united n
. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republicans want to close tax loopholes and eliminate deductions, which they say will raise $800 billion in new revenue. >> the president has a huge responsibility to work together with congress and find a solution to avert the fiscal cliff. >> reporter: and they say it's now up to the president to find a plan that can pass both chambers of congress. so now that each side has...
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counter offer to president obama and officials quickly dismissed it. major garrett is at the white house this morning. good morning. >> reporter: good morning, charlie and norah. there's no prospect for a deal and not much talking going on either. for the first time there are numbers on the pieces of paper from the white house and the congressional republicans. there are disagreements from both sides of how serious those numbers are. for the first time there are boundaries to find agreement in the middle if those numbers yield themselves to politics. republicans put their plan in writing. the white house says it should have saved the paper and ink. republicans remain opposed to raising income tax rates. overall, their plan is lighter on taxes and heavier on spending ing cuts than the white house prefers. gop offered $800 billion in tax increases by eliminating or reducing unspecified deductions. $600 billion in entitlement cuts and $300 billion. white house wanted $600 billion in cuts but no inflation to adjustments. republicans also want to raise the
counter offer to president obama and officials quickly dismissed it. major garrett is at the white house this morning. good morning. >> reporter: good morning, charlie and norah. there's no prospect for a deal and not much talking going on either. for the first time there are numbers on the pieces of paper from the white house and the congressional republicans. there are disagreements from both sides of how serious those numbers are. for the first time there are boundaries to find...
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won by bigger margins than obama won by. they ran against raising taxes and for the ryan plan which is actually $6 trillion in spending restraint over the next decade and tax reform rather than tax increases, so the republican mandate in the house was a lot clearer than obama's, who spent 86% of the pro-obama ads were trashing romney personally. so he won the right not to be romney but he didn't win the power to impose anything he wants. >> okay. hold that thought. robert, i want you to hold your response until we come back after the break. you've got about two minutes to make this really, really good. this december, remember -- m] you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as
won by bigger margins than obama won by. they ran against raising taxes and for the ryan plan which is actually $6 trillion in spending restraint over the next decade and tax reform rather than tax increases, so the republican mandate in the house was a lot clearer than obama's, who spent 86% of the pro-obama ads were trashing romney personally. so he won the right not to be romney but he didn't win the power to impose anything he wants. >> okay. hold that thought. robert, i want you to...
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and that's why i'm really glad president obama is not negotiating both for himself and for the republicans, which was sometimes his habit the last time. he's basically saying you want a bunch of cuts i don't have. don't make me propose them. that's creating some pressure on them. i think both those things will have an effect. we'll get the taxes back if we do nothing. >> the conversation in washington being separate from what it feels like the real needs of the country, a familiar feeling for me. i often have this frustration that the beltway discussion is not what the important questions are that are facing the country. in this case, i feel like as long as we're willing to talk about the economic needs of the country, as long as we're willing to talk about fiscal policy, how can it be we're not talking about new stimulus. the republicans ran against that as if the stimulus was this awful thing. but the republicans lost and we have an economic growth problem now. i wonder if you see signs of hope in what the president is asking for there in the way people are talking about the need to goos
and that's why i'm really glad president obama is not negotiating both for himself and for the republicans, which was sometimes his habit the last time. he's basically saying you want a bunch of cuts i don't have. don't make me propose them. that's creating some pressure on them. i think both those things will have an effect. we'll get the taxes back if we do nothing. >> the conversation in washington being separate from what it feels like the real needs of the country, a familiar feeling...
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to the house, the democrats to the senate, and president obama to the white house. they want them to start solving problems. they are absolutely disgusted with this and if they go over this cliff, believe me, there's going to be a price to be paid and nobody's going to be a winner on it. >> yeah, but i do want to add, john, i do believe the president did get a partial mandate, at least the voters said the wealthy in this country ought to pay higher taxes. now, how you get to the higher tax, whether you raise rates, whether you reduce deductions, there are a lot of different ways to get there. the point is, i think everybody now agrees that -- not everybody agrees, but that we need more revenue and that the wealthy ought to be the first ones in line. and that seems to be reasonable, but i think the white house can get too stuck on this whole question of rates as opposed to finding a creative solution that brings in more money. >> david, i agree with you, but you do that through effective tax rates, not through marginal tax rates. that's how you bridge it. >> i agree
to the house, the democrats to the senate, and president obama to the white house. they want them to start solving problems. they are absolutely disgusted with this and if they go over this cliff, believe me, there's going to be a price to be paid and nobody's going to be a winner on it. >> yeah, but i do want to add, john, i do believe the president did get a partial mandate, at least the voters said the wealthy in this country ought to pay higher taxes. now, how you get to the higher...
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that's how president obama is describing republican plans for avoiding the fiscal cliff. can these two work together? we'll ask congresswoman debb ebr debber -- debbie wasserman schultz. anne's tablet called my phone. anne's tablet was chatting with a tablet in sydney... a desktop in zurich... and a telepresence room in brazil. the secure cloud helped us get some numbers from my assistant's pc in new york. and before i reached the top, the board meeting became a congrats we sold the company party. wait til my wife's phone hears about this. [ cellphone vibrating ] [ female announcer ] with cisco at the center, working together has never worked so well. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with unlimited talk and text. get a droid incredible 4g lte by htc for $49.99. he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron c
that's how president obama is describing republican plans for avoiding the fiscal cliff. can these two work together? we'll ask congresswoman debb ebr debber -- debbie wasserman schultz. anne's tablet called my phone. anne's tablet was chatting with a tablet in sydney... a desktop in zurich... and a telepresence room in brazil. the secure cloud helped us get some numbers from my assistant's pc in new york. and before i reached the top, the board meeting became a congrats we sold the company...
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republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the president avoided questions about the gop plan. >> no deal better than a bad deal, sir? >> reporter: a senior white house official called the proposal a step backwards. saying if republicans do not agree to some higher tax rates for the wealthy, the nation will go over the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leaving washington locked in a stalemate, less than a month before every america
republicans and democrats in congress appeared no closer to a compromise. here's abc's tahman bradley. >> reporter: congressional republicans' counterproposal was dead on arrival. the white house quickly rejected the $2.2 trillion deficit reduction plan, that would raise $800 billion in tax revenue over the next decade. but the plan calls for raising the revenue without raising tax rates on top income earners, something the white house views as unacceptable. during a photo op, the...
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the two governors will join me, one a republican. there's a new report president obama is considering. vogue editor anna winteror to be the next u.s. ambassador to the uk or france. do you believe that report? it's our gut check. be sure to check out our "news nation" tumblr page. you'll see behind the scene pictures and we got this picture of wynton march sal less yesterday in the house. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. yeah, the cisco ucsc series server, with the intel xeon processors, help us scale smoothly, like a perfect golf swing. how was it before? clunky and full of unnecessary impediments. like charles' swing. i heard that. trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock.
the two governors will join me, one a republican. there's a new report president obama is considering. vogue editor anna winteror to be the next u.s. ambassador to the uk or france. do you believe that report? it's our gut check. be sure to check out our "news nation" tumblr page. you'll see behind the scene pictures and we got this picture of wynton march sal less yesterday in the house. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions,...
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yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am prepared to work with the speaker and democrats and republicans to go after excessive health care costs in our federal health care system, we're going to have to strengthen those systems and i think we can do that without hurting seniors, without hurting beneficiaries. i think that, you know, there's probably more cuts that we can squeeze out, though we've made over a trillion worth of spending cuts. >> you'll remember only a week ago the democrats proposed their solution to this and it was rejected by the republicans. the president is reiterating that taxes have to go up on the nation's top 2% in order to
yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am...
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republicans have put forward budgets, voted for them, willing to be held accountable. democrats have not. president obama has not. >> you won't vote for them. >> nor have any democrats. >> democrats have voted for those budgets and supported those budgets. >> zero to 610 is the vote total of the last three votes on his last three budgets, 0-610. do you think that's a serious proposal? president obama, show us your plan. >> he can't show you a plan he gave you a plan. his plan is not to repeal obamacare. not going to happen. you lost the election, buddy. >> we are out of time. we need to take bob shrum's coffee away, bring everybody back down. we appreciate your time, senator. i love you hashing the numbers with him. he always comes ready to lay it out. >> political reality, it is a very different world than he is laying out. republicans won't consider raising the top rates, it is not your choice anymore. they are going up unless you make a deal that the president accepts. >>> believe it or not, there are some other stories in the world today that don't involve the fisc
republicans have put forward budgets, voted for them, willing to be held accountable. democrats have not. president obama has not. >> you won't vote for them. >> nor have any democrats. >> democrats have voted for those budgets and supported those budgets. >> zero to 610 is the vote total of the last three votes on his last three budgets, 0-610. do you think that's a serious proposal? president obama, show us your plan. >> he can't show you a plan he gave you a...
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president obama made clear today that it will not be possible to get a deal to avert the fiscal cliff without raising taxes on the wealthy. the gop's plan did promise $2.2 trillion in deficit savings over the next decade. that's about half of what the president promises in his plan. but the gop plan does it without any tax hikes on the rich. and that is not going to fly with democrats. republicans for their part are unhappy that the president's proposal calls for $200 billion more in stimulus spending over the next year. here is how that breaks down. $95 billion to extend the payroll tax cut for one year, $30 billion to extend jobless benefit for one year, $50 billion to spend on roads and bridges and another $25 billion on short-term stuff like a temporary tax deduction for small businesses. the argument in favor of the president's plan is this could help people still hurting from years of economic trouble, but you know as well as i do, stimulus is almost as bad a word to republicans as tax hike. those are two words, actually. speaking of potential tax hikes, businesses continue to f
president obama made clear today that it will not be possible to get a deal to avert the fiscal cliff without raising taxes on the wealthy. the gop's plan did promise $2.2 trillion in deficit savings over the next decade. that's about half of what the president promises in his plan. but the gop plan does it without any tax hikes on the rich. and that is not going to fly with democrats. republicans for their part are unhappy that the president's proposal calls for $200 billion more in stimulus...
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president obama rejecting a fiscal cliff counter offer from republicans. the gop proposal calls for $2.2 trillion in deficit savings over the next decade, including 800 billion from tax reform. 600 billion from medicare reform, 600 billion in spending cuts. the white house is refusing to consider it because it doesn't include tax hikes for the wealthiest americans. >>> and britain is rife with speculation this morning, is kate having a boy, or a girl? is she having twins? triplets? what about a name? britain is buzzing with news that prince william's wife, katherine, is pregnant. she is in a london hospital being treated for severe morning sickness. >>> students at one elementary school in atlanta will attend class in a different building this morning. dozens were sickened yesterday at their regular school by carbon monoxide poisoning. at least 49 were sent to the hospital. fire officials believe the heating system failed. later this morning we will talk to a student, a parent and a school official. >>> the judge overseeing the court marshall of nadal hass
president obama rejecting a fiscal cliff counter offer from republicans. the gop proposal calls for $2.2 trillion in deficit savings over the next decade, including 800 billion from tax reform. 600 billion from medicare reform, 600 billion in spending cuts. the white house is refusing to consider it because it doesn't include tax hikes for the wealthiest americans. >>> and britain is rife with speculation this morning, is kate having a boy, or a girl? is she having twins? triplets?...